New Delhi, Aug 12 : Industrial production has shown some signs of recovery in the first quarter of the current fiscal with the index of industrial production (IIP) registering a 5.4 per cent growth compared to 3.7 per cent in the corresponding period last year.As per the CSO estimates released on Wednesday, the manufacturing sector too recorded a growth of 5.5 per cent in the quarter, against 3.3 per cent in the corresponding period last year. Similarly, electricity generation during the same period was up by 10.2 per cent compared with 5.4 last year.
On the other hand, growth in the mining sector has been in the negative, showing a decline of 0.3 per cent, against 4.9 per cent in the first quarter of last fiscal.
The improvement in manufacturing is being ascribed to a appreciable 11 per cent growth in the first quarter in capital-goods sector compared with a negative 1.3 per cent a year ago.
On a point-to-point comparison, industrial growth has registered a growth of 5.2 per cent, which has comeabout for the month of June. With the manufacturing sector showing as much as 5 per cent growth, compared with the same period previous year.
Overall, the index for industrial production (base 1993-94=100) stood at 137.2, while that for manufacturing stood at 140.1, electricity at 135.0 and mining stood at 117.0.
Six infrastructure industries have registered an overall 5.1 per cent growth during April-June in the current fiscal. This has, however, been same as that in the corresponding period last year.
During April-June this year, electricity, cement, steel and coal recorded positive growth rate of 10.1 per cent, 4.2 per cent, 2.8 per cent and 0.6 per cent.
Crude petroleum and petroleum refinery products recorded negative growth rate of -2.7 per cent and -1.1 per cent during the period, compared with the previous corresponding period.
The overall growth rate of these six infrastructure industries was, however, 5.2 per cent in June this year compared to June last.
The sector which witnesseddeceleration during the first quarter was the basic goods. The growth rate decelerated to 3.9 per cent in April-June compared with 6.8 per cent in the previous fiscal. Similarly, in case of intermediate goods there was a marginal deceleration. The growth rate worked out to be 7.0 per cent compared with 7.3 per cent in April-June 1997.
The consumer-goods sector did well with growth rate going up to 4.1 per cent compared with a negative growth of (-) 1.6 per cent in the first quarter of previous fiscal. The index of this sector was pulled up by the consumer non-durables, which recorded a 3.7 per cent growth rate, against the (-) 3.8 in last fiscal.
In the case of consumer non-durables, the growth rate, however, decelerated to 5.9 per cent, against 6.5 per cent during the first quarter of last fiscal.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.